Turkey issues LoI to buy strategic stake in Pakistan Stock Exchange

Turkish stock exchange has issued a Letter of Intent (LoI) to the Government of Pakistan for acquiring 40 percent strategic shares in Pakistan Stock Exchange (PSE). Turkey's Borsa Istanbul Anonim Sirketi (BIST) has over 420 listed firms with more than $260 billion market capitalization. BIST's letter came as the country's three stock exchanges in Karachi, Lahore and Islamabad are set to merge into a new integrated national bourse on Thursday (today).

Hascol Petroleum acquires 11.4% shares of Pakistan Refinery

Hascol Petroleum Limited has acquired 11.4 percent shareholding in Pakistan Refinery Limited (PRL), a notice issued to Karachi stock exchange said. Hascol Petroleum has acquired 3.987 million ordinary shares in class-A category, 28.48 percent of class-A shares i.e. 11.4 percent ordinary shares in the refinery.